Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1887-06-15
VHRlf,AND COFRRR.l
Record Of Panic, Excite
ment and Failures.
Matters Of Chief Interest
TO Railroad Men in
San Francisco.
THEATCHIsON SYSTEM
New Rates Announced on
Through Pacific Freight.
Jahflant Whatcom Our Eater
prise-Mexiean Favor to American
Industry-center Of Commerce
Strike On the Queen Of
the Paeiae.
THEATCHIsON sYSTEE
New Rates Announced on
Through Pacific Freight.
WHEAT PANIC.
GRKkr KxcFrKMKxT PREVAILING ON CHI.
CAoo WHEAT KxcHANGR-WTDE-
SPREAD INFLUENCE,

GREAT ExoETKMKxT PREVAILING ON CHI
cA0o WHEAT KxcHANGR-wDE-
SPREAD INFLUENCE,
CHICAGO, April I4.-Thsre vas a rep
etition Of Saturdays panic in the Vhea
market this morning. In less than Nv
minutes from the opening Of the boar
July Wheat broke three cents. /
opened at S39< broke 10 scs{ and con
tinued in its downward course until 4
| was reached, when q reaction set in anc
10 gradually advanced to 79& for July
Later O reaction set in and July option
again declined. June wheat vas alsS
plunged from 93l< TO S61S. The excite
ment vas intensified by the collapse oi
the coffee corner IN New York. and ths
| enormous wheat receipts here this
morning, which were reported 10 b
about 10000 bushels.
After IL q. %. tue wheat market. after
huetuatinR between 79A and 79& fOI
sometime. finally went all to pieces
Agaia, end July cloaed for the moFniRe
ct 70 and June at 74l4. The clique
houses apparently lost their hold on
the market and the crowd became com
pletely demoraIiZso. Panicky news
kept coming in from other points and
the morning session closed with almosi
q panic. The failare Of one of the lead
iRR clique houses, Moritz. Rosenfeld 4
Co., was announced few minutes be-
fore the close and IL Ia feared that other
fsilares may follow.
AT NEW FORK ALSO.
Nav YoRK, June 14.-As a result OF
the heavy decline at the west, the local
wheat market suffered bad break and
there was considerable excitement and
pressure TO sell. Fairly months are weak,
and June and July months are the
weakest. June and July being down
fully IL t. IL cents.
SUSPENSIONS ANNOUNCED.
CHICAGO, June 1.-THE most promi
nent of che clique brokerage houses
have announced their suspension. The
losses on decline by this concern will
probably amount to 81 100000. The
collapse ia worse than the failure Of
Peter MeGeoch aud will entail worse
losseP.
The fret intimation Of trouble in the
wheat deal appeared the day before yes
teTday, when the July peg at S556 was
broh en- through.
Joe Biltsbire, Of Cincinnati, was here
Saturday, Sunday and yesterday. Re
peated interviews have been held be-
tween these two Cincinnatians and the
Chicago brokers. At one Of the inter
vioVs at Rioheliea last night Kershav
left apparently 90 troubled in spirit that
thoae who saw his face felt that panic
was inevitable. II is said that Leopold
Bloom, scalper, who learned Of the
sensation al character Of that interviev
sold wheat on the strength Of it this
morning and made f6S,000 on the de-
cline.
FAILURE ANNOUNCED.
CHICAGO, June i4.-Secretary StonS
has announced the suspension Of Rosen
field Il Co. The offices Of this 6rm, a.
well as those of other commission
houses vho are supposed to be acting
for the clique, we're crowded with brok
eEs ell anxious to know what the eitua
tion vas and whether other cliqui
houses will be forced to suspend, also /
ROsenfeId co1ld not be seen. Hi
manager, Frank Johnson, said be oouls
make no statements as yet beyond tha
they had suspended. soar suspension,
said johnson, "is due simply to tn
reason that our Cincinnati clients hav
failed to keep all their verbal and writ
ten promises in regard to putting a
margins. We we're assured by then
last night that money would be forth
oomiRR this morning, and at interval
of ten minutes all this forenoon We hav
received kilograms Announcing the
money for our margins would be place
to our credit here. Up to noon, how
ever, nothing had been received frou
them, and to prevent more serious losse
We took the step We did"
aRRAr ExcITKMENT.
The greatest excitement prsvA her
among the Board o. Trade HOUSES. bu
up 10 , o'clock this afternoon no fur
ther failures have been announced. Ro
senfeld 10 one Of Michael Reese's heir:
MORE SUSPENSIONS.
go o. NIL has Just been announce
that the commission firms Of Hsnnioa
4 Bride. and Z. Berry have suspended
An evening paper says that the siXtee
million bushels Of grain collecte
and held by 9 mysterious eOmoinatio
will nov be sold out under the han
mer." The losses Of Rosenfeld & O.
on the decline are estimated at half
million dollars. KershaS 4 Co., her
recognized IS the leading Clique broker
cent in q communication to SecfetaF
Stone Of the Beard Of Trade that the
would rave plenty Of money BY tOmoI
row, and requesting ell the houses
keep their trades With them opsn.
GROWING MORE QUIT.
CHIoAoa. June I4-3 .. m.-The e.
, oitement in the Board Of Trade qaiete
down somewhat 80 the afternoon 81
siru drew TO q close, and no further d
velopments are looked fer today.
WOULD sAT NOTHING.
ONoNsArI, June Il -. w. Wilshir
Who has been named Is one Of the OiI
cinnati clique connected with the Ch
caRo wheat deal, vas asked to-day WbI
be had to say concerning the tumbl
bot be most emphaticaliy refused 10 -
anyihiuQ or % admit that be knew au'
thing more than anybody else sboui Il
matter.
N MrLEAUKKK-
NuwAuKKK, June l4.-The sudds
drop in wheat st all the great RFai
esnters eausea intense excitement 0
l'Cbanes today. Three failures we're Al
nouneed, VIZ: Prank Watson, Josep
Wide and Hill. FlsiizheimeF & Co, ID
latter being the Milwaukee bFaBeh (
OJ. Kershav 4 Co. Of Chicago. HOoke
GFittenden 4 Co. clOsed cut sIl the
tAAdes. Their failure depends on a
ability Of the KsrshAv crowd 10 me
all their obligations.
no oxK N MINNEAP0LIs.
MExxEAPoLEs, jane l4.-O. A. Pal
bury, the well- known miller and whe
dealer OF this city, is authority for Il
stafeuent that no one hese Was sang
by the heavy decline IN wheat IN ca